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CACI’s Earnings Tumble In Third Quarter

Cal Biesecker By
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CACI’s Earnings Tumble In Third Quarter
CACI President and CEO Ken Asbury

CACI International [CACI] on Wednesday posted a double-digit decline in net income due to lower sales, higher interest expense, severance expense and costs associated with a recent acquisition, although the company said its third quarter results were in line with expectations and its outlook for the rest of the fiscal year is intact. Net income fell nearly 20 percent to $30.8 million, $1.19 earnings per share (EPS), from $38.4 million ($1.62 EPS) a year ago, missing analysts’ expectations by three…

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